CALGARY, Alberta, Feb. 25, 2018 (GLOBE NEWSWIRE) — Marksmen Energy Inc. (TSX-V:MAH) (OTCQB:MKSEF) (“Marksmen” or the “Company”) and its wholly owned subsidiary, Marksmen Energy USA, Inc. are pleased to provide the following update on its Leaman 1H Clinton Sandstone Horizontal well in Hocking County, Ohio. The well is being drilled in conjunction with our working interest partners and is operated by Hocking Hill Energy (“HHE”).
Marksmen is pleased to announce that the drilling has been completed at the Leaman 1-H well, the Company’s first horizontal well in the Clinton Sandstone formation. The well was drilled to a total measured depth of 6,398 feet, of which 2,700 feet was the horizontal/lateral leg.
During the drilling of the horizontal leg of the well strong indications of hydrocarbons have been encountered including both natural gas and oil in the Clinton Sandstone formation, with oil to surface in several intervals. Archie Nesbitt, CEO of Marksmen states, “Our operations team and I are very pleased with the hydrocarbon shows encountered during drilling which have exceeded our expectations.”
An extensive logging and formation testing program paid for by a third party scientific research organization will begin shortly. This is designed to acquire scientific research data regarding the Clinton Sandstone in Ohio and will provide Marksmen and the working interest parties valuable information.
After logging, production casing will be run in the lateral leg followed by completion operations consisting of a multi-stage stimulation program. This will be followed by the equipping of the well with production equipment.
Marksmen has a 60% joint venture interest in the well and in a four-township area of mutual interest where the joint venture has in excess of seven thousand acres, on which some 20-30 potential Clinton Sandstone horizontal well locations have already been identified by Marksmen’s technical team.
For additional information regarding this news release please contact Archie Nesbitt, CEO and President at (403) 265-7270 or e-mail firstname.lastname@example.org
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This news release may contain certain forward-looking information and statements including drilling and other information available to Marksmen. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in Marksmen’s disclosure documents on the SEDAR website at www.sedar.com. Marksmen does not undertake to update any forward-looking information except in accordance with applicable securities laws.